How is a monthly mortgage payment calculated?

Your monthly mortgage payment has four components: principal and interest (based on your loan amount, interest rate, and term), property taxes, homeowners insurance, and any required mortgage insurance. This calculator breaks down each component so you can see exactly where your money goes.

Do VA loans require a down payment?

No. VA loans allow eligible veterans and active-duty service members to purchase a home with zero down payment. A one-time VA funding fee is typically rolled into the loan amount, and VA loans never require private mortgage insurance (PMI).

What is PMI and when can it be removed?

Private mortgage insurance (PMI) is required on conventional loans when your down payment is less than 20%. PMI is automatically canceled once you reach 20% equity in your home. VA loans never require PMI, and FHA loans use a separate mortgage insurance premium (MIP) structure.

What is the difference between FHA and conventional loans?

FHA loans require as little as 3.5% down and include an upfront mortgage insurance premium (1.75%) plus annual MIP. Conventional loans typically require 5% or more down and charge PMI only when the down payment is under 20% — and PMI can be canceled once you reach 20% equity. FHA MIP may be required for the life of the loan if your down payment is under 10%.

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Lenexa, KS

Lenexa, Kansas: One of the KC Metro’s Fastest-Growing and Most Exciting Cities

Lenexa has undergone a remarkable transformation in the past decade — evolving from a quiet suburb into one of the most talked-about cities in Johnson County. The development of Lenexa City Center, a walkable mixed-use urban district, has created a new downtown that’s drawing residents, businesses, and investment at a rapid pace.

Lenexa Neighborhoods and New Development

Lenexa City Center is the crown jewel — featuring restaurants, retail, parks, and new residential development all within walking distance. Beyond the City Center, Lenexa has established neighborhoods near 87th Street with mature landscaping and larger lots, and newer developments in the city’s southwestern quadrant near I-35.

Schools in Lenexa

Lenexa is served by both Shawnee Mission USD 512 and De Soto USD 232 depending on location. Both districts offer strong programs, and Lenexa’s rapid growth has brought investment in new school facilities to match.

Lenexa Real Estate

Home prices in Lenexa range from $280,000 to $500,000+, with townhomes and paired homes near City Center starting around $280–$350K. Appreciation has been strong and consistent, driven by the City Center development and continued business investment.

Frequently Asked Questions

What is Lenexa City Center? A $500M+ mixed-use development creating a walkable downtown with restaurants, shops, a performing arts center, and new housing — completely changing Lenexa’s identity.

Is Lenexa a good place to invest in real estate? Strong appreciation trends and continued development make Lenexa one of the best investment markets in the KC metro right now.

How far is Lenexa from Kansas City? About 20–30 minutes southwest of downtown KC via I-35.

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